Multiple Choice
Alpen Inc.is a manufacturing firm that holds a patent for a new food processing machine,which is considerably more efficient and safe.Being the only firm that manufactures that product,Alpen Inc.charges a very high price for its products.This is referred to as _____.
A) monopoly rent
B) technology lag
C) incumbent inertia
D) absorptive capacity
Correct Answer:
Verified
Correct Answer:
Verified
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